CALL NOW FOR CONSULTATION!
416-398-1700
As a Canadian tax payer you know that the ultimate responsibility of filing and paying your taxes rests entirely with you. Now for those with a very simple tax return this may not be that much of a challenge. Unfortunately there are many couples with families or those who also own small business, or are…
As usual, the Canada tax government has a deadline in place which is nothing new. In this case it is the deadline for taxpayer relief. Now this one isn’t so bad, because all it means is that if you are wanting to apply for this government program you can only carry back your…
It is that time of year where the little ones are putting pen to paper or most likely fingers to the keyboard in preparation for their letter to Santa. These youngsters have a task at hand to write out their Christmas wish list in the hopes that Santa is going to bring them at…
If you have received some type of correspondence from the CRA and haven’t a clue of what it is saying, don’t think that it’s just you who is experiencing this because there are tons of tax payers in the same boat. In fact, quite often when a follow up is made to try and…
Many people with disabilities have a great concern about their financial future. There is a long term savings plan in place for Canadians who are qualified as being disabled. This is called the RDSP meaning Registered Disability Savings Plan. It is often difficult for those who are on a limited income to find…
Usually as tax payers we only expect to see any potential tax changes for the better when it comes around election time for our Government leaders. It comes as a surprise that Prime Minister Stephen Harper appears to be planning to go ahead with a significant tax change which relates to income splitting. Some…
As Canadian tax payers we like to know the money that we pay to the government is being used in our best interests. While many of us may not favor the tax department, they still are a very necessary entity to the running of our Country. It is your tax dollars that go to the infrastructures throughout…
It is really important for you to understand what position a Allowable Business Investment Loss (ABIL) can put you in with regards to your taxes. This is a capital loss that occurs from the disposition of the shares of a small business corporation or involves a debt of the company. In order for the…
